AI Summary
5 min readOn Thursday, the Trump administration announced a new regulation capping foreign student visas at four years, a move that immigration reporter Michelle Hackman described as creating “a huge amount of uncertainty around are you going to be denied finishing your degree midway through your degree.” The announcement was one of several major developments in a busy news day that also included Chevron exploring a pipeline bypassing the Strait of Hormuz for Iraqi oil, FDA approval of a novel cholesterol pill from Merck, and a surge in debt collection lawsuits despite big banks reporting healthy consumer balance sheets.
Student visa changes target a key immigration pathway
The new rule limits student visas to a maximum of four years, after which holders must apply for an extension. While a four-year degree is the norm for undergraduates, most international students in the U.S. are actually pursuing graduate degrees. Hackman noted that PhD programs typically run five or six years, so the regulation injects real uncertainty about whether a student will be allowed to complete their program.
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What you'll learn
- 1 (00:33) **Student Visa Crackdown** - The Trump administration announces a new regulation limiting foreign student visas to a maximum of four years, requiring extensions for longer programs.
- 2 (01:13) **Debt Collection Lawsuits Surge** - A new Pew Charitable Trusts report shows debt collection lawsuits are at multi-year highs across eight states, contrasting with strong bank earnings reports.
- 3 (02:50) **Chevron Explores Bypassing Strait of Hormuz** - Chevron plans preliminary deals to invest in Iraqi oil fields and join a consortium studying a pipeline from Iraq to Syria's Mediterranean coast.
- 4 (03:25) **Diesel Prices Surge** - U.S. diesel futures have risen about 20% since last year, with the national average hitting $5 per gallon.
- 5 (03:52) **Market Movers: Chips, SpaceX, Netflix** - The Nasdaq fell 1.5% as chip stocks slumped, while SpaceX closed below its IPO price for the first time.
- 6 (04:26) **Trump Media to Sell Faster Access to Truth Social Posts** - The company will offer a real-time data feed to traders and institutional investors starting next month.
- 7 (04:53) **White House Operator Investigated for Betting on Trump Speeches** - The CFTC is investigating a teleprompter operator, Gabriel Perez, for betting on prediction market Calci.
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Show Notes
P.M. Edition for July 16. A new regulation from the Trump administration will cap student visas to a maximum of four years, and require extensions to stay longer. Journal immigration reporter Michelle Hackman gets into how big a change this is and what students—and U.S. companies—will be most affected. Plus, Chevron says it plans to explore how to help Iraqi oil bypass the Strait of Hormuz. And a new report from the Pew Charitable Trusts shows that debt collectors took more debtors to court last year. We hear from WSJ economics reporter Dan Frosch about what that suggests about the health of the U.S. consumer. Alex Ossola hosts.
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